Overview of the Global Market for Lamb and Sheep Meat

Market Size for Lamb and Sheep Meat

In 2021, the global lamb and sheep meat market increased by 12% to $X, rising for the fifth consecutive year after two years of decline. The market value increased at an average annual rate of +4.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Lamb and Sheep Meat

In value terms, lamb and sheep meat production soared to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.6% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

China (X tons) remains the largest lamb and sheep meat producing country worldwide, comprising approx. 24% of total volume. Moreover, lamb and sheep meat production in China exceeded the figures recorded by the second-largest producer, India (X tons), threefold. The third position in this ranking was taken by New Zealand (X tons), with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume in China totaled +2.7%. In the other countries, the average annual rates were as follows: India (+5.9% per year) and New Zealand (+4.8% per year).

The global average lamb and sheep meat yield amounted to X kg per head in 2021, approximately reflecting the year before. In general, the yield, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the yield increased by 1.7%. The global yield peaked at X kg per head in 2016; however, from 2017 to 2021, the yield remained at a lower figure.

In 2021, approx. X heads of animals slaughtered for lamb and sheep meat production worldwide; growing by 3.8% against the previous year's figure. This number increased at an average annual rate of +2.5% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. As a result, the number of producing animals attained the peak level and is likely to continue growth in the immediate term.

Exports of Lamb and Sheep Meat

Exports

Global lamb and sheep meat exports skyrocketed to X tons in 2021, rising by 24% against 2020. The total export volume increased at an average annual rate of +4.0% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, lamb and sheep meat exports surged to $X in 2021. In general, total exports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

New Zealand (X tons) and Australia (X tons) prevails in exports structure, together achieving 76% of total exports. It was distantly followed by the UK (X tons), creating a 5% share of total exports. The following exporters - Ireland (X tons), Spain (X tons), France (X tons) and the Netherlands (X tons) - together made up 12% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by France (with a CAGR of +19.4%), while the other global leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), Australia ($X) and the UK ($X) were the countries with the highest levels of exports in 2021, together accounting for 80% of global exports. Ireland, France, Spain and the Netherlands lagged somewhat behind, together accounting for a further 13%.

France, with a CAGR of +23.2%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average lamb and sheep meat export price amounted to $X per ton, rising by 19% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+4.1%), while the other global leaders experienced more modest paces of growth.

Imports of Lamb and Sheep Meat

Imports

In 2021, global lamb and sheep meat imports totaled X tons, surging by 2.8% compared with the previous year. The total import volume increased at an average annual rate of +3.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 17%. Over the period under review, global imports attained the peak figure at X tons in 2019; afterwards, it flattened through to 2021.

In value terms, lamb and sheep meat imports soared to $X in 2021. The total import value increased at an average annual rate of +5.0% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when imports increased by 20% against the previous year. Global imports peaked in 2021 and are likely to see steady growth in years to come.

Imports by Country

China represented the main importer of lamb and sheep meat in the world, with the volume of imports amounting to X tons, which was near 34% of total imports in 2021. The United States (X tons) ranks second in terms of the total imports with a 12% share, followed by France (8.7%). The UK (X tons), the United Arab Emirates (X tons), Germany (X tons), Malaysia (X tons), the Netherlands (X tons), Canada (X tons), Italy (X tons), Qatar (X tons), Saudi Arabia (X tons) and Japan (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the lamb and sheep meat imports, with a CAGR of +14.3% from 2012 to 2021. At the same time, the United States (+9.9%), Malaysia (+5.4%), Canada (+4.6%), the Netherlands (+4.5%) and Japan (+1.3%) displayed positive paces of growth. Germany, France, Qatar and Italy experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-1.2%), the UK (-6.3%) and Saudi Arabia (-9.7%) illustrated a downward trend over the same period. China (+20 p.p.) and the United States (+5.3 p.p.) significantly strengthened its position in terms of the global imports, while France, Saudi Arabia and the UK saw its share reduced by -3%, -3.8% and -5.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), the United States ($X) and France ($X) constituted the countries with the highest levels of imports in 2021, together comprising 53% of global imports.

China, with a CAGR of +21.2%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average lamb and sheep meat import price amounted to $X per ton, growing by 14% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+6.1%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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